Coinsource Expands Reach, 7 Bitcoin ATMs Launching in Los Angeles

Coinsource Expands Reach, 7 Bitcoin ATMs Launching in Los Angeles

LOS ANGELES, CA – May 3, 2016 – Coinsource, the National Bitcoin ATM Network, today announced its single largest installation of bitcoin ATMs to date, launching seven new machines across the Los Angeles area and two more bitcoin ATMs in Las Vegas. Coinsouce is now the largest bitcoin ATM provider on the West Coast with 16 machines in San Francisco, Silicon Valley, Los Angeles, Las Vegas, and San Diego.

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Coinsource Expands

Four bitcoin ATMs have been installed in LA proper, with one each in Lynwood, Long Beach and Torrance. Coinsource maintains the lowest transaction fee of any major bitcoin ATM network and now has a total of 30 machines in five states across the country.

Coinsource CEO and Co-Founder Sheffield Clark said his company is expanding quickly, in concert with the growing demand for digital currency, with bitcoin now trading above $450, up from $220 one year ago.

“Our entrance into the Los Angeles area is the most important yet for both the Coinsource brand and for bitcoin enthusiasts in Southern California. The roll out of seven new machines in one go was a significant logistical achievement, but we are proud to bring so many more options for both novices and veterans of bitcoin. With more and more use-cases for bitcoin every day, we foresee a future where digital currency is used as commonly as cash or credit cards,” said Clark.

The specific locations of the machines (details below) were selected based on their high vehicle and foot traffic, parking convenience, ease of access and long operating hours of the stores in which they are located.

“The Los Angeles community finally has convenient access to Coinsource’s secure, reliable and fully compliant bitcoin ATMs. We will continue to deliver on our promise to provide Americans everywhere with the opportunity to access bitcoin.”

“We’re also excited to expand our reach in Las Vegas to four machines, with two brand new locations East and West of the Strip, covering North Las Vegas as well. When you look at our locations on a map of the West Coast and across the United States, the ink spots are really starting to grow. It’s a very exciting time for us,” Clark added.

Manufactured by industry leader GenesisCoin, all Coinsource bitcoin ATMs are open late and offer the industry’s lowest fees. Rates start at 8% and reduce with higher volume purchases.

The newest, easy-to use Coinsource bitcoin ATMs join a network of active machines distributed across the United States, from San Francisco to New York City.